What changed between these versions
A small clarification and two substantive changes. The bill's scope for identifying limiting statutes was narrowed to explicitly exclude appropriations Acts, and the deadline for the study report was extended from 6 months to 1 year. Additionally, a specific definition for "rural" was added to provide clarity for the study's focus.
Overview
A handful of changes across two subsections and one new definition. · v2 clarifies the scope of the study, extends the reporting timeline, and adds a specific definition for "rural."
The primary changes in v2 involve refining the scope of the required study and adjusting its timeline. Specifically, the Federal banking agencies are now explicitly excluded from identifying appropriations Acts as limiting statutes, and the deadline for their joint report to Congress has been extended from 6 months to 1 year. Furthermore, v2 introduces a new definition for "rural" to provide clarity on the geographic scope of the institutions being studied.
Major additions
Adds a new definition for the term "rural." It specifies that "rural" has the meaning given in section 1026.35(b)(2)(iv)(A) of title 12, Code of Federal Regulations.
Provides a clear and specific regulatory definition for "rural," which is crucial for consistently identifying the depository institutions and areas that the study is intended to cover. This removes potential ambiguity in the application of the Act.
Modifications
Narrows the scope of the study by explicitly excluding appropriations Acts from the types of Federal statutes the agencies must identify as limiting factors. This means the study will not focus on how funding laws might impact rural depositories.
Before
Required the study to identify "Federal statutes or regulations" that limit methods to improve rural depository institutions or the establishment of de novo institutions.
After
Requires the study to identify "Federal statutes (other than appropriations Acts) or regulations" that limit these aspects.
Provides the Federal banking agencies with an additional 6 months to complete and submit their joint report to Congress, extending the timeline from 6 months to 1 year.
Before
Mandated the report to Congress be issued not later than 6 months after the date of enactment.
After
Mandates the report to Congress be issued not later than 1 year after the date of enactment.